Common use of Termination by Default Clause in Contracts

Termination by Default. If either party materially defaults in the performance of, or fails to be in material compliance with, any material term, condition or covenant of this Agreement, the nondefaulting party may terminate this Agreement if such default or noncompliance shall not have been remedied, or steps shall not have been initiated to remedy the same to the nondefaulting party's reasonable satisfaction, within 30 days after receipt by the defaulting party of a written notice thereof from the nondefaulting party.

Termination by Default. If either party materially defaults in the performance of, or fails to be in material compliance with, any material termagreement, condition or covenant of this Agreement, the nondefaulting non-defaulting party may terminate this Agreement with respect to the defaulting party if such default or noncompliance shall not have been remedied, or, in the event the default or non-compliance cannot be remedied within such period, reasonable steps shall not have been initiated to remedy the same to the nondefaulting party's reasonable satisfactionsame, within 30 sixty (60) days after receipt by the defaulting party of a written notice thereof from the nondefaulting non-defaulting party.

Termination by Default. If either party materially defaults in the performance of, or fails to be in material compliance with, of any material termobligations hereunder, condition or covenant of this Agreement, the nondefaulting party may terminate this Agreement and if any such default or noncompliance shall is not have been remedied, or steps shall not have been initiated to remedy the same to the nondefaulting party's reasonable satisfaction, corrected within 30 sixty (60) days after receipt by the defaulting party of a receives written notice thereof of such default from the nondefaulting non-defaulting party, then non-defaulting party, may, at its option and in addition to any other remedies it may have, terminate this Agreement.

Termination by Default. If either party materially defaults in the performance of, or fails to be in material compliance with, of any material termobligations hereunder, condition or covenant and if any such default is not corrected within sixty (60) days after the defaulting party receives written notice of this Agreementsuch default from the non-defaulting party, then the nondefaulting non-defaulting party may, at its option, and in addition to any other remedies it may have, terminate this Agreement if such default or noncompliance shall not have been remedied, or steps shall not have been initiated to remedy the same subject to the nondefaulting party's reasonable satisfaction, within 30 days after receipt by terms set forth in Section 7.4 immediately below upon written notice to the defaulting party of a written notice thereof from the nondefaulting party.